Toyota Motors is Partnering with Uber

Recently, Toyota Motors declared a partnership with Uber, all in order to analyze collaboration in the world of ridesharing. As a part of this partnership Toyota Financial Services and Mirai Creation investment will make crucial investment in Uber. The two companies have signed the memorandum of understanding (MOU), to explore ridesharing in the countries where it is developing.

This strategic partnership with Uber gives Toyota a platform in starting its mobility services and using Uber’s wide geographical network.

Uber drivers, as the agreement states, will be able to lease cars from Toyota. Payments will be covered by the income that they produce as Uber drivers. Period of leasing option will be flexible and based on the needs of the driver.

Further talks between Uber and Toyota will speed up all in the purpose to offer new value and new services to the customers.

“Ridesharing has huge potential in terms of shaping the future of mobility. Through this collaboration with Uber, we would like to explore new ways of delivering secure, convenient and attractive mobility services to customers,” said Shigeki Tomoyama, senior managing officer of Toyota Motor Corporation and president of the Connected Company, one of Toyota Motor Corporation’s recently created in-house companies.

Emil Michael, Chief Business Officer of Uber said: “We’re excited that Toyota, the largest automobile manufacturer in the world, is making a strategic investment in Uber as part of a broader global partnership. Toyota vehicles are among the most popular cars on the Uber platform worldwide and we look forward to collaborating with Toyota in multiple ways going forward, starting with the expansion of our vehicle financing efforts.”

These two companies have planned to establish in-car apps that support Uber drivers, leading research work and launching a “special fleet program” selling Toyota and Lexus vehicles to Uber. This partnership will bring both companies benefits looking at a long term period.